BGI-Shenzhen nailed down U.S. government approval for its controversial buyout of Complete Genomics, which would expand the Chinese sequencing powerhouse's technological capabilities in the competitive business of decoding DNA for medicine and agriculture.
Illumina ($ILMN), a gene sequencer and diagnostics company, will renew a push to continue its patent fight against Complete Genomics ($GNOM).
Complete Genomics notched a legal victory in its patent squabble with Illumina, as a federal judge threw out 9 of Illumina's infringement claims.
After watching its stock price get pummeled throughout the course of this year, Complete Genomics has accepted a $117 million buyout offer from China's BGI-Shenzhen. The deal comes at a 54% premium over the Mountain View, CA-based biotech's close in early June, when it announced a plan to start studying strategic options, igniting buzz about a likely takeover.
Complete Genomics' ($GNOM) search for strategic alternatives announced in June has led to a $117.6 million buyout deal with DNA sequencing competitor BGI. China-based BGI plans to scoop up Moutain View, CA-based Complete for $3.15 per share in cash as part of a move that would expand the company's U.S. footprint.
Amazon has revealed a new cloud-based service called Glacier for archiving large amounts data on the cheap.
As interpreting DNA sequencing data becomes a focus in biotech research, Complete Genomics ($GNOM) and Ingenuity Systems plan to roll up their technologies to provide a more complete combined service to sequencing customers.
Complete Genomics is slumping. The provider of whole genome sequencing and informatics support has decided to cut about 20% of its roster to conserve cash, and the company has hired a financial adviser to aid its hunt for "strategic alternatives."
Genetic sequencing costs are dropping at an accelerated velocity, and an article by the NYT predicts that their increased affordability will finally bring personalized medicine into everyday medical care.
Shares of Complete Genomics ($GNOM) soared some 50% at the start of the week after the Mayo Clinic announced it would use the company's sequencing services to support its personalized medicines unit.